In 1997 the population of New York City was 7.277 million people and in 1998 the

Question

In 1997 the population of New York City was 7.277 million people and in 1998 the population of NYC grows exponentially. a Whit the 1-year growth factor? b. What it the 2-year growth factor? c The population of NYC in 2000 can be determined by the population of NYC in 1998 by the 1 -year growth factor. d Use your answer from above to help you predict the population of NYC in 2000. E. What is the 4-year factor? f Which of the following represents the population of NYC in 2001? 7.277 + 4(1.0273) 7.277 middot (7.476/7.277)^4 7.277 middot (7.476/7.277)^1/4 4 middot (7.277/1.02730 None of the above.

Explanation / Answer

1997 ---- 7.277 million

1998 ---- 7.476 million

7.476/7.277 =1.027

Growth factor= 1.027

Two year growth factor : In two year population becomes 7.277(1.027)^2 = 7.675 million

2 year grwoth factor = 1.027^2 = 1.0547

Population in year 2000 can be found by multiplying population of 1998 with two year grwoth factor = 1.027^2 =1.0547

4 year growth factor : 1.027^4 = 1.112

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